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Looking back at the really bad old days

The final figures for mortgage arrears and repossessions in 2011 were better than expected, given the poor performance of the economy and recent rises in unemployment. But we can expect the run-off of these arrears and repossessions to be protracted.



SVR rise casts dark shadow

Last week’s Mortgage Strategy Awards, the 10th ceremony since the magazine’s launch in 2001, was another fantastic event.

£3.1M loss is all down to restructuring, says HML

HML has blamed restructuring costs for its £3.1m pre-tax loss in 2011, compared with a £100,000 profit in 2010. Last week, its parent Skipton Building Society reported pre-tax profits of £22.2m for 2011, down from £35m in 2010. The results revealed that HML made an operating profit of £200,000 in 2011, but restructuring costs resulted […]

Small lenders buckle under demand, with Accord pulling all deals again

Accord Mortgages’ decision to pull its product range for the second time in a month has sparked fears that smaller lenders are struggling to cope with demand. Accord withdrew all its residential products last week to maintain service levels after receiving a high volume of applications. It is expected to replace the products at some […]

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Has Britain really stopped saving?

By Steve Webb, Director of Policy and External Communications Our latest policy paper reveals what the fall in the savings ratio does (and doesn’t) mean In June 2017, the Office for National Statistics published its estimates for the ‘savings ratio’ for the first quarter of 2017. This is essentially a measure of the percentage of […]


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  • Dermot Brannigan 14th March 2012 at 4:52 pm

    I think there are also two other factors which point to the difference in repossessions between now and the early 90’s.
    Back then, more people threw the keys back to the lender, with no understanding of the implications. This wasn’t helped by double-digit interest rates which many considered unfair.
    Secondly, councils haven’t got the money to re-house people a lender no longer wants, so the courts are less likely to sanction an order. There is already enough case law against lenders applying for possession, that it is cheaper to keep the borrower where they are.